Fifth Third Bancorp Reduces Holdings in Electronic Arts Inc. $EA

Key Points

• Fifth Third Bancorp reduced its stake in Electronic Arts Inc. by 3.8%, owning 45,253 shares valued at approximately $7.23 million after selling 1,811 shares in the second quarter.
• Electronic Arts declared a quarterly dividend of $0.19 per share, representing an annualized dividend of $0.76 with a dividend yield of 0.5%.
• The stock currently has a consensus rating of "Moderate Buy" with an average price target of $167.40 from various analysts.

Fifth Third Bancorp lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,253 shares of the game software company's stock after selling 1,811 shares during the quarter. Fifth Third Bancorp's holdings in Electronic Arts were worth $7,227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts in the first quarter worth $28,000. Bank of Jackson Hole Trust increased its position in shares of Electronic Arts by 56.4% in the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock valued at $30,000 after acquiring an additional 75 shares during the period. Wayfinding Financial LLC purchased a new position in Electronic Arts in the 1st quarter worth $39,000. American National Bank & Trust acquired a new stake in Electronic Arts during the 1st quarter worth about $40,000. Finally, Costello Asset Management INC purchased a new stake in Electronic Arts during the 1st quarter valued at about $40,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Stock Performance

EA opened at $168.32 on Friday. The firm has a fifty day moving average price of $166.81 and a 200 day moving average price of $154.05. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $180.90. The stock has a market cap of $42.12 billion, a P/E ratio of 42.19, a P/E/G ratio of 2.54 and a beta of 0.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, August 27th. Electronic Arts's dividend payout ratio is presently 19.05%.

Analyst Ratings Changes

EA has been the subject of a number of research reports. Wall Street Zen downgraded Electronic Arts from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Arete upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price objective for the company in a research note on Tuesday, August 5th. Wells Fargo & Company set a $168.00 price objective on shares of Electronic Arts and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Bank of America boosted their target price on shares of Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $210.00 price target on shares of Electronic Arts in a report on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fourteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $167.40.

Insiders Place Their Bets

In other news, insider Vijayanthimala Singh sold 1,200 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $171.52, for a total value of $205,824.00. Following the completion of the sale, the insider directly owned 34,731 shares in the company, valued at $5,957,061.12. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Laura Miele sold 2,500 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $155.49, for a total value of $388,725.00. Following the transaction, the insider directly owned 58,092 shares of the company's stock, valued at approximately $9,032,725.08. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,800 shares of company stock worth $5,077,960 in the last 90 days. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.

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